It represents one of the largest single farmland transactions in the history of Western Canada. The Hudye Group has announced the sale of their Canadian farmland assets to the Hutterian Brethren Church of Spring Creek, Walsh, Alberta.
The sale includes over 20,000 acres of farmland plus all of the existing equipment storage and grain storage belonging to Hudye Farms Inc. and related companies. Hudye Farms Inc. has entered into a custom farming agreement with Spring Creek to complete the 2012 crop year with an extension to 2013 at Spring Creek's option. The sale price has not been disclosed.
The Board of Directors of the Hudye Group was unanimous in their decision to enter into the sale process with Spring Creek.
"While we will continue to own and manage our agricultural retail business, Hudye Soil Services Inc. in north-east Saskatchewan, as a family we decided to take our farmland investment in a new direction," comments Braden Hudye, President, Hudye Farms Inc. "What helped us make this decision was that we knew that the Spring Creek group will carry on our strong family farming tradition, care for the land, the environment and our local community," adds Greg Hudye, Director of Hudye Farms Inc.
Spring Creek Colony was founded and established in 1956 south of Walsh, Alberta. The colony has grown from 10,000 acres to 25,000 today. The members of Spring Creek Colony are committed towards all aspects of agriculture and food production with their main objective to help feed the world. They are dedicated to their community, including being on the Walsh volunteer fire department as well as making a substantial donation to the new Maple Creek General Hospital. They will be operating the new farm as the Hutterian Brethern Church of Crystal Lake Inc.
"Spring Creek and Hudye Farms are now working together to ensure a smooth transition," says Nathan Hudye, Vice-President and Manager of Hudye Farms Inc. "Spring Creek has committed to continuing with the Field of Dreams project in addition to facilitating the aggressive research efforts aimed at maximizing productivity in cooperation with Hudye Soil Services Inc. and other industry partners. We firmly believe that this change in ownership will be a good thing for the industry and the community."
Hudye Farms Inc. was founded in 1980 and has grown from 2,000 acres to 20,000 acres. It is one of the business entities of the Hudye Group based in Norquay, Saskatchewan, Canada. Hudye Farms Inc. has been recognized as one of the premier farm operations in Western Canada, and has been involved in countless research efforts and trials expending time and resources to promote increased profitability by maximizing productivity. Hudye Farms Inc. has received both national and international recognition for its involvement and commitment to the agriculture industry over the past 30+ years.
The Hudye Group is comprised of investments in farmland both in Canada and the United States; agriculture retail operations in north-east Saskatchewan; commercial real estate in Saskatchewan and North Dakota; oil and gas interests in both Canada and the United States; wind energy development in eastern Colorado; and residential real estate in Arizona.
